Macro Events — April 22, 2026

🇮🇷Military Attack

Attacks on shipping near Iran disrupt oil supply routes, raising fears of shortages and pushing prices higher.

Higher oil prices increase transportation and production costs, which are passed on to consumers as higher prices.

🇺🇸Ceasefire Optimism

The ceasefire extension reduces geopolitical risk, lowering oil prices.

Lower oil prices reduce inflation pressure, leading to fewer expected ECB rate hikes.

🇺🇸Peace Talk Breakdown

Stalled peace talks keep geopolitical risks high, which supports elevated oil prices.

Higher oil prices increase costs and inflation, hurting corporate profits and stock prices.

🇮🇷Peace Talk Stall

Stalled peace talks keep geopolitical risks high, which supports elevated oil prices.

Higher oil prices increase import costs, raising inflation risks in India.

🇺🇸Military Strike

The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.

The closure of a key shipping route reduces oil supply, pushing prices higher.

Higher oil prices increase costs for Indian companies, squeezing their profit margins.

🇺🇸Naval Blockade Continuation

The US naval blockade continues to disrupt oil shipments through the Strait of Hormuz, reducing supply and pushing prices higher.

Rising oil prices increase costs, fueling concerns about higher inflation.

🇮🇷Military Conflict

The ongoing military conflict disrupts oil supply, reducing available barrels and pushing prices higher.

Higher global oil prices directly increased the cost of petroleum products, which drove up South Korean producer prices.

🇮🇷Peace Talk Announcement

Peace talks reduce fears of supply disruptions, lowering oil prices.

🇮🇷Conflict Escalation

Military tensions in the Strait of Hormuz threaten oil supply, pushing prices higher.

🇺🇸Military Tension Rise

Military tensions in the Strait of Hormuz threaten oil supply, pushing prices higher.

🕌Military Blockade

A military blockade in the Persian Gulf disrupted oil tanker flows, reducing supply and pushing up global oil prices.

🇺🇸Diplomatic Negotiation Progress

Hopes for renewed US-Iran talks eased supply disruption fears, reducing upward pressure on oil prices.

🇮🇷Peace Talks Stall

Stalled peace talks and closed Strait of Hormuz disrupted LNG supply, pushing UK gas prices up.

🇺🇸Lng Export Rise

Higher LNG exports increase demand for natural gas, pushing prices up.

🇺🇸Peace Talk Uncertainty

Uncertainty over US-Iran peace talks keeps the Strait of Hormuz closed, disrupting gas supply and pushing prices higher.

🇺🇸Production Decline

Lower production reduces supply, pushing natural gas prices higher.

🇺🇸Gas Production Decline

Lower production reduces supply, which pushes up natural gas prices.

🇮🇷Military Conflict

Military conflict disrupts LNG shipments through the Strait of Hormuz, reducing supply to Europe.

🇺🇸Peace Talk Progress

Progress in US-Iran peace talks reduces supply disruption fears, lowering natural gas prices.

🌍Peace Talk Anticipation

Expectations for renewed US-Iran peace talks reduced fears of supply disruptions, lowering gas prices.

🇺🇸Storage Surplus

A persistent storage surplus, due to mild weather and strong inventory injections, increased supply and reduced demand pressure on natural gas prices.

🇺🇸Military Strike

The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.

The closure of the Strait of Hormuz disrupts global energy supply routes, reducing available natural gas and pushing prices higher.

Higher gas prices increase inflation risks and threaten economic growth, causing investors to sell European stocks.

🇺🇸Central Bank Chair Confirmation Hearing

The Fed chair nominee's pledge to fight inflation made gold less attractive as a hedge.

Lower gold prices reduce the revenue and profitability of gold mining companies, making their stocks less valuable.

🇺🇸Peace Talk Collapse

Peace talks collapsing reduced safe-haven demand for gold, causing its price to drop.

🇺🇸Currency Appreciation

A stronger dollar makes gold more expensive for holders of other currencies, reducing demand and pushing its price down.

🇺🇸Interest Rate Hold Expectation Rise

Strong US economic data suggests the Fed can keep rates high, reducing gold's appeal as a safe-haven asset.

🇺🇸Military Strike

Military strikes in a key oil shipping route disrupt supply, pushing oil prices higher.

Higher oil prices increase costs for fuel and transport, which can push overall prices up.

The Middle East conflict created an energy shock that increased inflation risks, making central banks more likely to raise rates.

Higher interest rates make gold less attractive because it doesn't pay interest.

🇺🇸Military Strike

Military strikes disrupt oil supply, raising fears of higher prices and inflation.

Higher oil prices from Middle East tensions increase inflation risks, making central banks more likely to raise rates.

Gold fell because higher inflation risks from the conflict increased expectations that central banks will raise interest rates, making gold less attractive.

🇨🇳Restocking

Chinese restocking increased demand for copper, pushing prices higher.

🇺🇸Peace Negotiation

Peace talks reduce geopolitical risk, lowering copper's safe-haven demand and price.

🇺🇸Military Tension Rise

Military tensions raise inflation and growth fears, reducing expected demand for industrial metals like copper.

🇺🇸Economic Data Improvement

Stronger economic data reduces need for rate cuts, pushing bond yields higher.

🇺🇸Core Retail Sales Rise

Higher retail sales signal a stronger economy, which can lead to higher interest rates and Treasury yields.

🇺🇸Private Employment Rise

Stronger private hiring suggests a robust economy, which can lead to higher inflation expectations and push up Treasury yields.

🇺🇸Employment Rise

Strong employment data signals a resilient economy, pushing bond yields higher.

🇺🇸Tax Refund Rise

Larger tax refunds gave consumers more money to spend in stores.

Strong retail sales data signaled a resilient economy, pushing bond yields higher.

🇺🇸Peace Agreement Expectation

Hopes for a US-Iran peace deal lowered inflation fears, reducing the appeal of higher bond yields.

Lower Treasury yields reduce the cost for lenders to fund mortgages, allowing them to offer lower rates to borrowers.

🇺🇸Military Strike

Military strikes increase inflation fears, making government bonds less attractive and pushing yields higher.

🇺🇸Economic Data Improvement

Stronger economic data reduces need for rate cuts, pushing bond yields higher.

🇺🇸Geopolitical Tension Rise

Geopolitical tensions in Iran made investors more cautious, reducing demand for riskier assets like the New Zealand dollar.

Geopolitical tensions reduced investor appetite for risk, increasing demand for safe-haven US dollars.

🇺🇸Peace Deal Uncertainty

Investors worried a US-Iran peace deal would not be reached, causing them to sell stocks.

🇺🇸Core Retail Sales Rise

Higher retail sales signal a stronger economy, which can lead to higher interest rates and Treasury yields.

🇺🇸Private Employment Rise

Stronger private hiring suggests a robust economy, which can lead to higher inflation expectations and push up Treasury yields.

🇺🇸Military Strike

The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.

Shipping route disruption in the Strait of Hormuz intensifies the energy shock, raising global energy prices.

Higher energy prices raise costs and inflation fears, hurting corporate profits and economic growth.

🕌Military Conflict

The Middle East conflict has disrupted oil shipments through the Strait of Hormuz, reducing global energy supplies.

The Middle East conflict has reduced energy supplies, raising costs and pushing up prices globally.

🇺🇸Earnings Rise

Strong corporate earnings boosted investor confidence, pushing stock prices higher.

🇺🇸Investment Pledge

Amazon's large investment pledge boosted investor confidence, lifting its stock price.

🇺🇸Employment Rise

Strong employment data signals a resilient economy, pushing bond yields higher.

🇺🇸Tax Refund Rise

Larger tax refunds gave consumers more money to spend in stores.

Strong retail sales data signaled a resilient economy, pushing bond yields higher.

🇺🇸Tax Refund Rise

Larger tax refunds gave consumers more money to spend in stores.

Strong retail sales reduce need for rate cuts, supporting hold expectations.

🇺🇸Peace Agreement Expectation

Hopes for a US-Iran peace deal lowered inflation fears, reducing the appeal of higher bond yields.

Lower Treasury yields reduce the cost for lenders to fund mortgages, allowing them to offer lower rates to borrowers.

🇺🇸Military Strike

Military strikes in a key oil shipping route disrupt supply, pushing oil prices higher.

Rising oil prices increase costs for transportation and goods, making people worry more about inflation.

The Middle East conflict created an energy shock that increased inflation risks, making central banks more likely to raise rates.

🇺🇸Ceasefire Optimism

Extending the ceasefire reduced fears of conflict, making investors more confident in stocks.

🕌Military Conflict

The Middle East conflict has disrupted oil shipments through the Strait of Hormuz, reducing global energy supplies.

The Middle East conflict has reduced energy supplies, raising costs and pushing up prices globally.

🇺🇸Military Strike

The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.

Shipping route disruption in the Strait of Hormuz intensifies the energy shock, raising global energy prices.

Rising energy prices from supply disruptions threaten to slow global economic growth by increasing inflation and reducing demand.

Fears of slower global growth could reduce manufacturing activity and demand for industrial metals.

🇺🇸Military Strike

The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.

Shipping route disruption in the Strait of Hormuz intensifies the energy shock, raising global energy prices.

Energy price rises from shipping disruptions increase costs for businesses, raising inflation risks.

🌍Petrol Price Rise

Rising petrol prices increase costs, pushing overall inflation higher.

🇬🇧Political Testimony

Political testimony about a scandal increased uncertainty, making UK government bonds riskier and pushing their yields higher.